Compute nominal GDP in 2014. Compute real GDP in 2015. Compute the GDP deflator in 2016. 2014 (base year) 2015 2016 P Q P Q P Q Good A $30 900 $31 1000 $36 1050
Compute nominal GDP in 2014. Compute real GDP in 2015. Compute the GDP deflator in 2016. 2014 (base year) 2015 2016 P Q P Q P Q Good A $30 900 $31 1000 $36 1050
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter13: Measuring The Economy's Performance
Section: Chapter Questions
Problem 13AA
Related questions
Question
- Compute nominal
GDP in 2014. - Compute real GDP in 2015.
- Compute the GDP deflator in 2016.
2014 (base year) |
2015 |
2016 |
||||
P |
Q |
P |
Q |
P |
Q |
|
Good A |
$30 |
900 |
$31 |
1000 |
$36 |
1050 |
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